City BusinessNews, Author at City Business News

July 29, 2016 No Responses

Turkey wants 17 “Turkish” schools closed in Nigeria

(NAN)-The Turkish Ambassador to Nigeria, Hakan Cakil, has called on the Nigerian Government to close 17 Turkish schools in Nigeria for their alleged links with a movement his government says was involved in the July 15 failed coup attempt in...

July 29, 2016 No Responses

Court stops PDP convention

The crisis rocking the Peoples Democratic Party (PDP) has assumed another dimension as a Federal high court sitting in Abuja on Thursday granted the application filed by the Ali Modu Sheriff faction of the party to stop the convention scheduled...

July 28, 2016 No Responses

Workers task FG on N5.3 trillion pension funds

By Moses Ebosele – Rising from its National Delegate Conference (NDC) in Abeokuta, Ogun State, Association of Senior Civil Servants of Nigeria (ASCSN) has appealed to the Federal Government to offer ‘adequate protection’ to the N5.3 Trillion work...

July 28, 2016 No Responses

UK Envoy canvasses support for Nigerian capital market

By Moses Ebosele Despite various economic challenges in Africa, the Nigerian capital market has great opportunities, United Kingdom Trade & Investment (UKTI) Envoy, John Howell has said. According to Howell, Nigeria’s capital market is viabrant, not...

July 28, 2016 No Responses

Diana containerships cuts quarterly dividend

Based on the current container vessel charter market, Athens-based shipping company Diana Containerships Incoparated has made a decision to suspend the quarterly cash dividend on its common shares effective with the quarter ended June 30, 2016. Diana Contai...

July 27, 2016 No Responses

NAHCO shareholders get N324.8m dividend

By Moses Ebosele – Shareholders of Nigerian Aviation Handling Company (NAHCO) Plc on Tuesday, in Abuja, approved quest by the board of the company to pay dividend of 20 kobo per share, amounting to N324.8million for the year ended Decenber...

July 27, 2016 No Responses

UBA denies funding coup in Turkey

By Moses Ebosele – Foremost financial institution, United Bank for Africa (UBA) Plc has described as spurious reported attempt to link it with the failed coup attempt in Turkey. In a statement issued by its Head of Communications, Mr. Charles...

July 27, 2016 No Responses

NLNG partners Warsash on maritime training, safety

By Moses Ebosele – As part of measures to support training and development of mariners globally, Nigeria Liquefied Natural Gas Limited (NLNG) has commissioned a manned model of its new Dual Fuel Diesel Electric (DFDE) vessels at Southampton Solent Univ...

July 27, 2016 No Responses

CBN raises interest rate to 14 per cent

The Central Bank of Nigeria (CBN) has raised monetary policy rate (MPR) from 12 per cent to 14 per cent as part of measures to curtail inflation. CBN Governor, Godwin Emefiele explained at the end of the Monetary Policy Committee...

July 27, 2016 No Responses

Nigeria to host Maritime Ports and Terminals Expo

By Moses Ebosele – Facilitators of the 9th Nigeria International Maritime Port and Terminal Conference and Exhibition (NIMPORT 2016) have concluded plans to host the event between 23-25 August 2016 at Shehu Musa Yar’Adua Centre, Abuja. Acco...

July 27, 2016 No Responses

FBN declares 10.5 % drop in profit

By Moses Ebosele – For the six months ended June 30, 2016, FBN Holdings Plc attained Profit After Tax of N35.9 Billion, down by 10.5 per cent when compared with N40.1 Billion recorded within same period in 2015. According to...

July 27, 2016 No Responses

Stakeholders seek support for NIMASA DG

By Moses Ebosele – Experts and stakeholders in the maritime sector have commended the leadership initiatives of Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside. Speaking at a ceremony hosted ...

July 27, 2016 No Responses

INEC okays Makarfi as PDP’s Acting National Chairman

(NAN) The Independent National Electoral Commission (INEC), has recognised former Governor of Kaduna State Ahmed Makarfi as the Acting National Chairman of the Peoples Democratic Party (PDP). In a statement issued by INEC’s Deputy Director, Voter Educatio...

July 26, 2016 No Responses

Global market capitalisation drops to $67.2 trillion in six months

By Moses Ebosele – A report put together by the World Federation of Exchanges (WFE) has revealed that between January and June this year, global market capitalisation declined by 9.4 per cent to reach $67.2 trillion, compared with $74.2...